Shop­pers Stop to ex­pand re­tail in smaller cities

Apparel - - Market Watch -

Ris­ing in­comes, in­creas­ing aware­ness and high as­pi­ra­tions in ru­ral ar­eas are en­cour­ag­ing sev­eral re­tail­ers to make a bee­line for tier II and III towns. Shop­pers Stop is one of those. It is plan­ning to open five new stores in 2018-19 and will en­ter four new lo­ca­tions of Cali­cut, Nashik, Guwa­hati and Bhubaneswar. The re­tailer has ear­marked R120 crore for open­ing five de­part­ment stores, twelve beauty stores and tech­nol­ogy upgra­da­tion.

Cur­rently, Shop­pers Stop has 83 stores op­er­a­tional in 38 cities span­ning across 4.26 mil­lion sq ft. In May, in­ter­na­tional brand H&M opened one store in My­suru and an­other in Au­rangabad. The com­pany cur­rently op­er­ates 32 stores across Delhi-NCR, Mum­bai, Hy­der­abad, Chen­nai, Ben­galuru, Pune, Am­rit­sar, In­dore, Coim­bat­ore, Kolkata, Mo­hali, Mysore, Ahmed­abad and Raipur.

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